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We are committed to accelerating the energy transition process

'El País' has published on 19 January 2018, an opinion piece by Ignacio Galán, Iberdrola's Chairman, in which he stands up for the need to progress towards a sustainable, safe and competitive model that replaces polluting energies used in production processes by clean energies and intensifies the electrification of the global economy, because "this is the only solution that can achieve the balance between meeting the strong demand for energy with meeting the global climate objectives." MORE INFORMATION

ENERGY TRANSITION

We are committed to accelerating the energy transition process

'El País' published on 19 January 2018, an opinion piece by Ignacio Galán, Iberdrola's Chairman, in which he stands up for the need to progress towards a sustainable, secure and competitive model that replaces fossil fuels by clean energies and intensifies the electrification of the global economy, because "this is the only solution capable of reconciling a strong growth in global energy demand with meeting the climate goals."

For Ignacio Galán, "we can accelerate the energy transition by setting the right processes required to drive the effective decarbonisation of the economy through the fair distribution of climate action costs across different sectors, following the polluter pays principle."

Likewise, Iberdrola's Chairman states that the unstoppable shift towards clean energies requires taking advantage of the huge transformative potential of the solutions available in the electricity industry and, to achieve this, "it is necessary to establish a clear energy policy and stable and predictable regulations, which can attract the capital required for the necessary investment in renewable energies and networks. The security of the system would be guaranteed at all times with a market design that enables the availability of firm and flexible power to support renewable energies, intermittent by nature, whose costs have been greatly reduced thanks to the maturity reached by wind and photovoltaic technologies."

Wikinger offshore wind farm.

Ignacio Galán also mentioned that the time for big statements is over: "We have an accurate diagnosis and we know the solutions". To this end, he shared the words of the speech of French President, Emmanuel Macron, during the One Planet Summit held in Paris on 12 December 2017: "We will all be held accountable if we don't act now against climate change."

Iberdrola and the fight against climate change

In addition to other actions implemented by the company in the fight against climate change, the Chairman reviewed Iberdrola's plans which are based on investing further in renewable energies, in the networks needed for their integration and in efficient large-scale energy storage. He also stated that "allocating €25 billion to these investments by 2020, will allow us to consolidate as one of the electric utilities with the lowest emissions and to meet our ambitious objectives to reduce them even further. We will also continue to show our commitment to the UN's Sustainable Development Goals, which have been included in our business strategy and in our Sustainability Policy."

Finally, Ignacio Galán highlights Iberdrola's positive performance in terms of growth, results, international diversification, the creation of jobs and wealth for the societies where it operates, which demonstrates that "profitability and contributing to social development are fully compatible with resolutely doing battle against climate change. A battle for all, an opportunity for Europe."